KSA leads the way as OPEC production recovers

Mar 12, 2014 12:00 AM

Saudi Arabia increased its crude oil production in February 2014 to 9.849 barrels per day (bpd). The figures represent a small increase from 9.767 million bpd in January.

The world's largest oil exporter supplied 9.899 million bpd in February to the market, down from 9.916 million bpd in January. Supply to market may differ from production depending on the movement of barrels in and out of storage.

OPEC's oil output rose further in February from December's 2 ½ year low, due to more shipments from Iraq and Angola, and further upward creep in Iranian exports, a survey found in February.

Iraq's crude oil production reached 3.5 million bpd in February and exports rose to their highest level ever at 2.8 million bpd for the month.

As for OPEC member Libya, the government has tried to end a wave of protests at oil ports and fields across the vast desert state that have slashed oil output, the country's lifeline, to 230,000 bpd, from 1.4 million bpd in July.

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